P D Motors Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04190802 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 April 2014

for

P D Motors Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

H S Sandhu

REGISTERED OFFICE:

2nd Floor

Hygeia House

66 College Road

Harrow

Middlesex

HA1 1BE

REGISTERED NUMBER:

04190802 (England and Wales)

ACCOUNTANTS:

Lawrence Grant

Chartered Accountants

and Reporting Accountants

2nd Floor

Hygeia House

66 College Road

Harrow

Middlesex

HA1 1BE

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

22,990

21,623

22,990

21,623

CURRENT ASSETS

Stocks

10,100

10,500

Debtors

18,182

17,897

Cash at bank and in hand

434,108

359,902

462,390

388,299

CREDITORS

Amounts falling due within one year

84,893

54,998

NET CURRENT ASSETS

377,497

333,301

TOTAL ASSETS LESS CURRENT LIABILITIES

400,487

354,924

PROVISIONS FOR LIABILITIES

2,688

2,621

NET ASSETS

397,799

352,303

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

397,699

352,203

SHAREHOLDERS' FUNDS

397,799

352,303

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 12 January 2015 and were signed by:

H S Sandhu - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

10% on cost

Plant and machinery

-

25% reducing balance

Motor vehicles

-

25% reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Deferred taxation

The charge for taxation takes into account taxation deferred as a result of timing differences between the

treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in

respect of all timing differences that have originated but not reversed at the balance sheet date. However,

deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that

there will be suitable taxable profits from which the future reversal of the underlying timing differences can be

deducted. In accordance with FRSSE April 2008, deferred tax is not recognised on revaluation gains. Deferred

taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which

the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet

date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement,

as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that

evidences a residual interest in the assets of the company after deducting all of its liabilities.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2013

and 30 April 2014

62,000

AMORTISATION

At 1 May 2013

and 30 April 2014

62,000

NET BOOK VALUE

At 30 April 2014

-

At 30 April 2013

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2013

87,786

Additions

8,754

At 30 April 2014

96,540

DEPRECIATION

At 1 May 2013

66,163

Charge for year

7,387

At 30 April 2014

73,550

NET BOOK VALUE

At 30 April 2014

22,990

At 30 April 2013

21,623

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at the balance sheet date, the director H S Sandhu had a credit balance on his current account of £24,692

(2013 : £14,071).This was an interest free loan to the company, and is included in other creditors.